BOWIE, Md. – October 6, 2015 – Inovalon (Nasdaq: INOV), a leading technology company providing advanced, cloud-based data analytics and data-driven intervention platforms to the healthcare industry, today announced that it has entered into a multi-year contract with Touchstone Health, a New York Medicare Advantage Health Maintenance Organization (HMO), to provide data-driven analytics to improve clinical and quality outcomes, regulatory compliance and financial performance for their membership population.
Inovalon will leverage its integrated, prospective point-of-care and retrospective risk score accuracy solutions, Prospective Advantage® and CARA®, as well as its quality improvement solution, Star Advantage®, applying advanced cloud-based analytics, data-driven intervention platforms and innovative strategies to identify, address and close gaps in care, quality, documentation and data integrity in a highly targeted manner for Touchstone Health’s membership population. Additionally, Inovalon’s CAAS™ and eCAAS Advantage® claims aggregation, analysis and submission solutions will support the efficient and accurate submission of Touchstone Health’s claims and encounter data. All solutions will be supported by Inovalon’s business intelligence platform INDICES™ to provide Touchstone Health with deep insights and detailed reporting to help with key business decisions.
We are pleased to partner with Touchstone Health, a healthcare leader that exemplifies their commitment to excellence in quality of care and service for their members every day,” said Robert Wychulis, president of Inovalon. “As the trend toward quality and value-based care models increases, the importance of data-driven insights has never been more critical to success. Touchstone has been, and continues to be, an innovative partner – embracing the speed-to-impact value that is achievable with Inovalon’s technologies.” “We take great pride in the level of provider and community engagement that delivers high quality, affordable, healthcare to our members,” said Edward Fargis, chief executive officer of Touchstone Health. “Inovalon’s data-driven analytics will enable us to achieve greater insight into our membership and deliver the results we seek for our community.”
About Touchstone Health
Touchstone Health is a New York-based Medicare Advantage Health Maintenance Organization (HMO) serving Medicare beneficiaries in New York City and in Westchester and Orange counties. Touchstone Health is a licensed managed care company offering a diverse portfolio of product options, including zero and low dollar co-pay plans with benefits including medical, pharmacy, dental and mental health. The company was founded in 1998 by a group of neighborhood physicians with a goal to bring personalized, high quality, and cost effective healthcare to New York. Touchstone Health HMO, Inc. is a Medicare-approved Health Maintenance Organization with a Medicare Advantage Prescription Drug contract with the federal government.
Inovalon is a leading technology company that combines advanced cloud-based data analytics and data-driven intervention platforms to achieve meaningful insight and impact in clinical and quality outcomes, utilization, and financial performance across the healthcare landscape. Inovalon’s unique achievement of value is delivered through the effective progression of Turning Data into Insight, and Insight into Action®. Large proprietary datasets, advanced integration technologies, sophisticated predictive analytics, data-driven intervention platforms, and deep subject matter expertise deliver a seamless, end-to-end capability that brings the benefits of big data and large-scale analytics to the point of care. Driven by data, Inovalon uniquely identifies gaps in care, quality, data integrity, and financial performance – while bringing to bear the unique capabilities to resolve them. Providing technology that supports hundreds of healthcare organizations in 98.2% of U.S. counties and Puerto Rico, Inovalon’s cloud-based analytical and data-driven intervention platforms are informed by data pertaining to more than 769,000 physicians, 261,000 clinical facilities, and more than 123 million Americans providing a powerful solution suite that drives high-value impact, improving quality and economics for health plans, ACOs, hospitals, physicians, consumers and pharma/life-sciences researchers. For more information, visit www.inovalon.com.
Kim E. Collins
4321 Collington Road
Bowie, Maryland 20716
Phone: 301-809-4000 x1473